HP expects between 4,500 and 5,000 employees to leave the company by the end of fiscal 2019 as part of an ongoing restructuring plan, the PC maker said.
According to CNBC, in October 2016, HP’s board of directors approved the restructuring plan that will be implemented in fiscal year 2019, with the expected reduction of about 4,000 jobs. In May, the company said this number would increase from 1 to 2% of its workforce. As of October 31st last year, the number of employees at HP was 49,000, which means an increase of about 500-1,000 employees compared to the initial estimate.
HP, was founded in 2015 after Hewlett-Packard Co was split into two. The company is expected to pay a pre-tax fee of $ 700 million related to layoffs, compared with a previous forecast of around $ 500 million.
HP estimates that about half of pre-tax costs are expected to be related to cuts and the remaining costs due to infrastructure, non-labor actions and other charges.
When Hewlett-Packard Co spun off, HP focused on its consumer hardware business, including selling computers and printers, while Hewlett Packard Enterprise co-hosted public data centers, software, and services. ty.
The report in the first quarter of 2018 shows that HP is dominating the top position in PC sales worldwide with 22.6% market share, while quarterly sales are better than expected $ 14 billion in same quarter.
* Source: Youth